We are recruiting for a deputy fund manager based out of Cardiff.
To provide team management support for the Technology Venture Investments Director (TVI Director), together with leadership and guidance for Technology Venture Team Investment Executives.
To be responsible for the monitoring and management of the Technology Venture Investment portfolio and providing the TVI Director and Investment Executives with guidance on risk and provisioning and recommendations on appropriate follow on investment.
Specific responsibility for monitoring and reporting on the TVI portfolio and the progress towards and execution of, investment realisations and exits.
To lead on all aspects of TVI portfolio valuation. In partnership with the Finance Division, take responsibility for the scheduled reporting of IFRS and portfolio legacy positions.
Main duties and responsibilities
- Contribute to the operation of the Fund as a senior professional fund provider of risk capital to start-up and existing businesses, in accordance with the investment operating guidelines.
- Assist with the development and management of systems and procedures as specified in the fund’s investment operating guidelines.
- Develop and implement appropriate systems to track and monitor the Technology Venture portfolio of investee companies. Responsible for reporting on the status and risk profile of the portfolio at the scheduled risk meetings.
- Line management responsibility for sub team of Investment Executives
- Responsibility for liaising with Finance regarding TVI portfolio valuations and implementation of Financial Accounting Standards.
- Lead responsibility for both internal and external auditor engagement and the implementation of agreed recommendations, together with responsibility for all Quality and Compliance practices for the TVI team.
- Manage and motivate other team members, providing investment training/guidance where required. Assist Investment Executives with the structuring of challenging investments and expedient processing of deal completions.
- Provide support and guidance to Investment Executives on financial modelling and sensitivity analysis for investment cases presented to the Investment Committee.
- Deputise for the TVI Director at Senior Management Operations meetings and other senior management commitments as appropriate, including the exercise of discretionary powers. Act with full delegated authority on investments in the absence of the TVI Director.
- Responsible for the appraisal and sanctioning of investments up to £250k in line with Investment Operating Guidelines.
- Monitor any allocated TVI portfolio assets, including attending Boards as observer and facilitating the appointment of NEDS and the strengthening of the executive teams as necessary. Where appropriate, place follow on investment in portfolio companies following the achievement of planned critical milestones.
- Assess applications for funding, conducting appropriate due diligence and preparing necessary reports to the Technology Venture Director, Investment Director and Investment Committee.
- Contribute to the design and implementation of administration and management information systems for the Fund.
- Assist the TVI Director to input specialist advice and guidance to the Development Bank with the development of new financial products to address the gaps in provision and meet the needs of businesses in Wales.
- Undertake presentations, participate and represent the Fund(s), where appropriate, at meetings, seminars, events and joint group activities.
- Assist in marketing/promoting the Fund(s) in conjunction with the wider awareness raising of the Development Bank.
- To attain set targets set as part of TVI business performance objectives.
- Any other task as may be defined by the TVI Director to meet the operational needs of the Fund.
Knowledge, skills, abilities and experience
- Previous venture capital/private equity, leveraged finance or corporate finance experience
- Understanding of all aspects relating to debt and equity investment in either Early Stage or later stage investing
- A track record in delivering high quality outputs with a focus on compliance.
- Excellent written and verbal communication skills, including an ability to present to a wide range of audiences.
- Able to work independently and as part of a team.
- A pragmatic and commercial mind-set with strong negotiation and decision making skills.
- Relevant professional qualification or minimum five years relevant professional experience
- Minimum of 3 years line management experience
- Strong financial acumen with experience of analysing financial information as contained in business plans and Investment Memoranda.
- Driving Licence
- IT literate to include the use of Word, Excel, PowerPoint, Sage Winforecast
- Knowledge and understanding of the role of the public sector in SME finance
- Understanding of the regional business environment
- Understanding of the DBW Group and its activities
- Familiarity with the economic development strategies of the Welsh Government
- Welsh speaker